Inca One Reports Record Calendar Q3 Sales of US$9.7 Million

Vancouver, British Columbia--(Newsfile Corp. - October 19, 2021) - INCA ONE GOLD CORP. (TSXV: INCA) (OTCQB: INCAF) (FSE: SU92) ("Inca One" or the "Company") a gold producer operating two, fully permitted, mineral processing facilities in Peru, reports (unaudited) consolidated gold and silver sales for the three month period July, August and September, 2021 ("Q3 2021" or "the Quarter") from its Chala One Plant ("Chala One") and Kori One Plant ("Kori One"). All comparative year-over-year ("YoY") and quarter-over-quarter ("QoQ") sales and production numbers represent consolidated operations from both facilities.

Total gold and silver sales for calendar Q3 2021 was approximately US$9.7 million, an all time high for any third Quarter, surpassing the Company's previous best third quarter by 13% and the prior Q2 2021 sales by 26% (US$7.7 million). The strong sales performance was driven by the continued quality and quantity of gold bearing material delivered to both plants fueling production.

The Company is now processing at a record production and sales pace, with 7,079 tonnes of raw material processed in September, surpassing the 7,000 tonnes level, another new milestone reached this year.

"I am delighted to see the continued increases in ore supply fueling our record production and sales pace," stated Inca One President and CEO, Edward Kelly. "I would like to thank our Peruvian team for setting additional records in both ore purchases and ore processing. We have deployed working capital effectively and I am excited to see the operational results for the remaining months in 2021."

About Inca One

Inca One Gold Corp is a TSXV listed, gold producer operating two, fully permitted, gold mineral processing facilities in Peru. The Company has produced in excess of 100,000 ounces of gold, generating over US$125 million in revenue from its processing operations. Inca One, is led by an experienced and capable management team that has established the Company as a trusted leader in servicing government permitted, small-scale miners in Peru. Peru is one of the world's largest producers of gold and its small-scale mining sector is estimated by government officials to be valued in the billions of dollars annually. Inca One possesses a combined 450 tonnes per day permitted operating capacity at its two fully integrated plants, Chala One and Kori One. To learn more visit www.incaone.com.

Figure 1. Inca One's gold processing facilities in Peru (left: Chala One facility; right: Kori One facility)

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2645/100130_4c37559394cb881f_001full.jpg

On behalf of the Board,

Edward Kelly
President and CEO
Inca One Gold Corp.

For More Information Contact:

Konstantine Tsakumis
Inca One Gold Corp.
ktsakumis@incaone.com
604-568-4877

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Statements regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) fluctuation of mineral prices; (ii) a change in market conditions; and (iii) the fact that future operational results may not be accurately predicted based on this limited information to date. Except as required by law, the Company does not intend to update any changes to such statements. Inca One believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100130